Commercial Property Depreciation
Commercial depreciation is Depreciation for commercial buildings and commercial fitouts that may be owned by individuals or businesses. This covers a broad range of commercial investment properties including offices, factories, warehouses, mixed-use properties, even farms.
Two Unique Benefits of Commercial Properties
Unlike Depreciation for residential properties, commercial properties are exempt from the asset depreciation limitations introduced in the 2017 budget. It’s also possible for the landlord and tenant to claim depreciation in many cases. That’s because commercial tenants often spend considerable sums on fitout which may include false ceilings, refrigeration, creating extra rooms.
With all those variations it’s important to choose a Quantity Surveying firm who specialises in commercial property Depreciation. We can answer and ask those tricky questions like “what about fitout that was done by a previous tenant who has moved out?”, or “what if I own a property under two entities? one is the landlord and one is the tenant”. It can get complicated. With our extensive experience in this complex area, we ensure you get the maximum depreciation claim from your commercial property.
What Does A Commercial Depreciation Schedule Cost?
We quote each individual commercial Depreciation Schedule on a case-by-case basis. Just give us the address, answer a few simple questions and we’ll provide a free no-obligation quote. In many cases we can also provide an indicative depreciation figure if we have enough information.
How Long Does It Take To Get A Commercial Depreciation Schedule?
Most commercial Depreciation Schedules are completed within 10 working days of us conducting an inspection or receiving all necessary information, whichever is last.
Did You Know You Can Claim Common Property?
You can claim a portion of depreciation for any common areas where your commercial property is located. This can be a substantial sum and may include, lifts, fire services, fencing, signage, driveways, parking areas, card readers, etc.
I’ve Got An Older Commercial Property, Is Depreciation Still Worthwhile?
We find substantial Depreciation in older commercial properties all the time. It will depend on the age and whether we’re looking at the building, or the fitout, or both. If you give us an address and a few details about the properties we can quickly tell you if there’s a worthwhile Depreciation claim.